Dakota Securities Business Continuity Plan
Dakota Securities policy is to respond to Significant Business Disruption by safeguarding employees’ lives and firm property, making a financial and operational assessment, recovering as quickly as possible and in the process protecting all of the firm’s books and records and allowing customers to transact business. If we determine that we cannot continue to do business we will assure our customers immediate access to their funds and securities.
- Bruce Zipper, President and Christian R. McNamee Vice President are the registered principals responsible for approving the plan and for conducting the required annual review. Bruce Zipper, President and Christian R. McNamee, Vice President have the authority to execute this BCP.
- Our firm will maintain copies of its BCP plan and annual reviews, and the changes that have been made to it for inspection. Dakota Securities plans to use the BCP Repository service offered by the NASD
- Dakota Securities conducts business in equities, corporate bonds, mutual funds, insurance products, and options. Our firm is an introducing firm and does not perform any type of clearing function for itself or others. Additionally, we do not hold customer funds or securities. We accept and enter orders only. All orders are sent to our clearing firm, which executes compares, allocates and settles them. Our clearing firm also maintains our customer’s accounts and grants internet access to them. Our clearing firm delivers funds and securities to our customers. We do not engage in private placements.
- We at Dakota have only one Corporate office location which is accessible by car and by public transportation. Our address is 9100 S. Dadeland Blvd. Miami, Fl. 33156 suite # 908. Our phone # is 305-403-7500. We execute orders at this location.
- In the event of a SBD, if the telephone service is available, we will take customer orders or instructions and contact our clearing firm on their behalf. If web access is available our firm will post on our web site that customers may access their funds and securities by contacting the people at our clearing firm (Legent Clearing). Our firm will make this information available to customers through our disclosure policy. Legent Clearing has customer access to their accounts now through the internet as well.
- Dakota Securities electronic backup is available on the internet and can be accessed through any computer on or off the premises. Our account paperwork is located in a secure space in our Miami, Fl. Location. We do not have a backup office to work in the event of a SBD. We will work out of our homes until the office becomes available to do business. Each representative has access to computers at their home. We plan on asking our clearing firm to place emergency phone numbers on the monthly statements sent to our customers to alert them on what to do in case of a SBD
- We have the primary responsibility at Dakota for establishing and maintaining our business relationships with our customers and have sole responsibility for our mission critical functions of order taking. Our clearing firm provides through contract, the execution, clearance, and settlement of securities transactions. As well as maintaining customer accounts and delivery of funds and securities.
- Our clearing firm provides that it will maintain a business continuity plan and to execute that plan if necessary. Our clearing firm represents to us that they keep our records at a backup facility in another area in the event they have a SBD.
- In the event of a SBD we will inform customers through whatever means are available to us to place any orders directly with the clearing firm if we cannot execute ourselves. Our clearing firm has procedures in place to handle such a contingency.
- Our company will communicate in any way possible with our customers. Including phone, internet, and voice-mail, in the event of a SBD.
- Dakota securities in the event of a SBD will not require any additional financing from outside sources such as banks and the like.
- Our firm will update this plan whenever a material changes to our operations, structure, business or location or to those of our clearing firm.
- I have approved this BCP as reasonably designed to enable our firm to meet its obligations to customers in the event of a SBD.
- If not able to make contact with your Rep or the Dakota Securities Corp. Headquarters please call Legent Clearing directly at 1-402-384-6101 or go to www.legentclearing.com
- Dakota's backup data in the event of a severe business interruption is held at
Legent Clearing Corp, in Omaha, Ne. in both hard copy and electronic form.
- Dakota has electronic backup done daily and held at remote server Legent
Clearing Corp.
- Dakota backs up all records of each account. The data backup is stored in
servers with Legent Clearing in both Omaha, Ne. and Chicago, Ill.
- Bruce Zipper, president of Dakota, will be the person responsible for
maintaining data.
- Alternate Communications: Dakota will use cell phones and e-mail to
communicate with its employees.
Dakota will use cell phones and e-mail to communicate with regulators from
FINRA and the SEC.
Dakota will use laptop computers and also use its compliance company,
NCS, to file its regulatory reports.
- Disclosure Requirements:
Dakota stores its BCP plan on its website for its customers to review.
Additionally, Dakota sends out via mail a copy of its BCP plan once each
year to its clients.
|
